Echo recently sat down with Michael Kitces on the Financial Advisor Success Podcast to discuss how you can own your future by continuously reinvesting in yourself to build the advisory career you want.
In this episode:
Echo talks about how she built her career starting out in the industry from scratch as an immigrant to the U.S. with just $800 in her pocket. She started studying finance as an undergraduate, then decided that it would help her career to get a CPA license, so she joined a public accounting firm to get the requisite two years of audit experience. Then, transitioned to the personal financial planning division of a regional accounting firm and earned her CFP certification to build her professional credibility and help overcome the fact that she looked young when sitting across from older clients. Why Echo ultimately went out on her own at a cost of losing two-thirds of her AUM to rebuild the vision of the advisory firm she wanted to build. And why, as an already successful advisor in her 40s, she still decided to go back and get her CFA certification on top of juggling the challenges of growing the business and being a parent to her daughter Nina.
Echo also discusses how she built her independent advisory firm to serve the clients she wanted to serve. Why she chose TD Ameritrade as her custodian. The reason she selected Salesforce as her CRM of choice despite Redtail and Wealthbox being more popular for solo advisors. Why eMoney Advisor became the hub of her financial planning services for clients. And how Echo structures her fees for clients with an AUM fee that starts at 1% on their first $1 million for portfolio management. And a separate fee of up to $5,000 for the first years’ financial planning.
Get your copy of Echo's new book Own Your Future: One Woman’s Story of Immigration and Financial Freedom